GLADEVILLE, Tenn. — Craig Hutain has spent $17,000 and put in about 1,500 hours over the past four years restoring the original look of his 1965 Mustang — right down to the "springtime yellow" paint and tachometer mounted on the steering column.

Hutain, who bought the Mustang while in high school, is one of thousands of Mustang owners gathering this weekend near Nashville to celebrate the car's 40th anniversary.

The Mustang made its debut April 17, 1964 at the World's Fair in New York. Since then, about 8 million people have bought one.

Hutain, 44, a commercial pilot from Montgomery, Texas, considers his work a "tasteful restoration." His long-suffering wife, Lori, would say only, "It takes a lot of patience."

The Mustang was devised by Lee Iacocca, then Ford division chief, and product manager Donald Frey. The early models were little more than Ford's family sedan, the Falcon, with a new body.

But the car's image appealed to performance enthusiasts, and the Mustang became an American icon.

Frey, now 81, attended the Nashville event and signed autographs like a rock star. One man proclaimed him a "true genius" — an accolade that drew a snort from Frey.

"The original team didn't have a lot of people or money," he said. "We did everything on the cheap. ... The first car had only one light that flashed when the turn indictor was on."

Frey said the first Mustang rolled out only 18 months after getting the go-ahead from top management.

"I remember that we hoped to sell 86,000 units because we made a little money at that level," he said. "We sold over 400,000 in the first year and more than a million in the second."

Frey now teaches engineering at Northwestern University, and his students frequently ask how he launched the Mustang.

"I tell them to understand their market," Frey said. "It's important to know what people want."

But Ford launched the Mustang with little market research. Names considered for the new car included Cheetah, Puma, Cougar, Colt and Special Falcon.

Joseph Oros, now 87, set the design standards for the Mustang.

"I told the team that I wanted the car to appeal to women, but I wanted men to desire it, too," he said. "I wanted a Ferrari-like front end, the motif centered on the front — something heavy-looking like a Maseratti, but, please, not a trident — and I wanted air intakes on the side to cool the rear brakes. I said it should be as sporty as possible and look like it was related to European design."

A 1965 ad for the Mustang called it "a car to make weak men strong, strong men invincible."

Paul J. Russell, the current marketing manager for the Mustang, said a new V-6 lists at less than $20,000 and a loaded GT Coupe sells for slightly more than $30,000.
It sells well among baby boomers, but also among people younger than 30, Russell said. And about half its buyers are women.

"The car is more about 'psychographics' than demographics," Russell said.

Hau Thai-Tang, 37, chief engineer for the current Mustang, got his first look at the car as a child in Vietnam where it served as a prop at USO shows.

"When you look at the 2005 car, you can see the family resemblance, but it's also a new car," he said. "We went through our rich history and looked at what worked and what didn't. We quickly focused on the 1967-1968 models to draw inspiration from."

Hutain's 1965 Mustang had about 126,000 miles on it when he started the restoration. He's added just a few because he rarely drives it on city streets. He and his wife towed it on a trailer from Texas to the Nashville Superspeedway.

"When I wash the tires, I take the wheels off," he said. "My car has never had a hose on it."

who would pay over 30gs for a GT? i know i wouldn't if i were gonna spend that kind of money on a mustang i would buy an 04 cobra....and you know dealers are going to jack the price up more than that..they will call it a market adjustment....i guess i won't be getting one....

I agree, thats too much. What the 04 GT's are going for without rebates is too much. You cant find one that stickers less then 28500 around here. Granted a deal and rebates will take that much lower. When the 05 hits there will be no rebates. Last week, I came to the sad conclusion that thaey are pricing it too high. I bought a 2002 z28 with 20k miles on it for $13,000! Maybe in a year or 2 they will be priced more in line with what I will pay.

Whether it is too much or too little remains to be seen. If Ford sells out of them in the first year, without offering a single rebate, then it is arguable that the price is too low instead of too high . It may be more than some people can afford, but this is capitalism.

Founding Member

Maybe it is just me but, if you read the article carefully it sounds as if they are talking about the current GT. They are talking full retail, who pays that? Ford has gone to great links to give us what they think we want with the new Mustang, I seriously doubt they are going to price it out of the market.

Leather
Gauges (color) - no one else offers this, not available on '04
1000 watt stereo

18" wheels (cha-ching!) Not available on '04. One car that comes to mind in this regard is the WRX. The optional wheel/tire package was about $3000 when that car came out, which, considering it means a base wheel/tire delete, was insane. I don't know what it is now.

300 hp - 40 more than the current GT.
5-speed automatic - not offered on the current car.
bigger brakes

That's just off the top of my head. Keeping in mind inflationary increases in cost,
$30k doesn't sound out of line. It will be interesting to see how it all comes out. My guess is the the 18's won't be cheap.

I tried to state before in a previous thread the "05 stang vs gto" one that the new gt would come out for around 30000! I mean that was the sticker just about for the mach 1 and we are talking pretty similar cars power wise etc yes? I also read that they are not setting a limit on a cobra price like as in they don't care if it tops 40000. I'll have to dig around and find that article on the net if when i do i'll post it! I like the new stang but for the same price as a GTO i'm gonna go with the GTO it's simply bigger for the same price, more horses more room, and I don't see how the stang can top the interior of the pontiac. Hopefully something will happen between now and when the stang hits in september to get the price down but I fear it's far to late

I don't think it will jump $5K. The base price should still be pretty close to the current base price. The main difference is that the '05 is going to be at higher demand initially which means paying more than you would for an '04.

As for it being 30K or more fully loaded, several people have already commented on the fact that "fully loaded" actually has more meaning with the '05. Namely, the options of the 18" wheels and interior packages are going to add to the price whereas you can't even get that with the '04.

there is a black 40th anniversary GT at a dealership nearby going for $31k .... waaaaay too much... there is even an 04 GT stick, cloth interior, ****ty rims, no options almost going for $24k.... shoot... i paid 23k for a brand new 03 GT with everything... including mach 1000

Founding Member

GT's should be going no more than 2% over invoice..throw in a rebate and thats roughly 20-21g's...and i am talking premium...i almost bought an 04 GT premium loaded with the polished cobra wheels for 18 plus change(zplan)....GT's right now can be had dirt cheap if you are patient and bargain with the dealers....

I agree, thats too much. What the 04 GT's are going for without rebates is too much. You cant find one that stickers less then 28500 around here. Granted a deal and rebates will take that much lower. When the 05 hits there will be no rebates. Last week, I came to the sad conclusion that thaey are pricing it too high. I bought a 2002 z28 with 20k miles on it for $13,000! Maybe in a year or 2 they will be priced more in line with what I will pay.

Click to expand...

Where are you from, man? I was looking at some 04 GT coupes in Atlanta when they were brand new on the lot and they stickered at $24, 215.

Founding Member

Where are you from, man? I was looking at some 04 GT coupes in Atlanta when they were brand new on the lot and they stickered at $24, 215.

Click to expand...

Thats what I'm saying. GT's loaded sticker for 25k in Houston area. Of course if you want to pay for premium package, etc...it can push past 29k. But the article just says loaded GT coupe so its gray. I consider a loaded GT coupe to not be a loaded GT deluxe or premium so that would be a 5k jump. I guess it all depends on what he means by loaded.

Thats what I'm saying. GT's loaded sticker for 25k in Houston area. Of course if you want to pay for premium package, etc...it can push past 29k. But the article just says loaded GT coupe so its gray. I consider a loaded GT coupe to not be a loaded GT deluxe or premium so that would be a 5k jump. I guess it all depends on what he means by loaded.